>> TIME IS RUNNING OUT TO GET YOUR TAXES DONE. TOMORROW IS THE DEADLINE TO FILE. SO THE
IRS EXPECTS THAT MORE THAN
160 MILLION INDIVIDUAL TAX
RETURNS WILL BE FILED THIS
YEAR. WELL, JOINING ME NOW IS
MARK STEBER, THE CHIEF TAX
INFORMATION OFFICER AT JACKSON
HEWITT. AND GOOD MORNING.
THANK YOU FOR BEING HERE WITH
US.
>> GOOD MORNING. A VERY
EXCITING TIME FOR TAXPAYERS
THE LAST DAY TOMORROW. YES, SO
I’M SURE THERE ARE DEFINITELY
SOME PEOPLE WHO PROCRASTINATE.
WHAT ADVICE YOU HAVE FOR THOSE
WHO STILL BE TO FILE. DON’T
MISS THE DEADLINE. NO MATTER
WHAT YOU’RE THINKING. I DON’T
HAVE MONEY. I CAN’T PAY GET TO
IT. LATER. THE PENALTIES FOR
LATE FILING IN LATE PAYMENT OR
PRETTY SIGNIFICANT. AND EVEN
IF YOU MUST SEND AN EXTENSION
FORM OF 48 68 AND AT LEAST GET
THE FAILURE TO FILE PENALTY
OFF THE TABLE. AND IF YOU
CAN’T AFFORD TO PAY, CONSIDER
FINANCING WITH THE IRS TO
INSTALLMENT AGREEMENT OR EVEN
A TAX PRO BANK PRODUCT
SOMETHING BY MIDNIGHT
TOMORROW. NO MATTER WHAT ELSE,
I AT LEAST GET THAT PAPERWORK
YET. AND THERE’S STILL PLENTY
OF TIME TO FILE. THE SEND
THING I WOULD SAY, DON’T
PANIC. YOU KNOW, THERE’S A LOT
TO HELP LOT OF PEOPLE WITH
EXTRA HOURS, A LOT OF
RESOURCES. THIS IS OUR TIME.
MANY COMPANIES ARE OPEN WORLD
AND TODAY, EVEN THOUGH IT’S
EASTER AND CERTAINLY BE OPEN
TOMORROW UNTIL EVERY CLIENT IS
SERVED AND THEN THE REST OF
THE WEEK, IF YOU DON’T GET IT,
DO IT, DO IT AS SOON AS
POSSIBLE AFTER THAT, THAT WILL
REDUCE THE PENALTIES ARE STILL
EXPOSED. DON’T PANIC, GET
ORGANIZED AND GET AFTER THIS
POINT IN TIME. THE COUPLE
DAYS.
>> ALL RIGHT. SO LET’S TALK
WORST CASE SCENARIO. WHAT DO
TAXPAYERS DO IF THEY MIX MISS
THE TAX DEADLINE?
>> WELL, IF YOU MISSED THE
DEADLINE, YOU MAY BE SUBJECT
TO AT LEAST THE FAILURE TO
FILE PENALTY, WHICH IS 25% AND
THE FAILURE TO PAY PENALTY,
WHICH IS ANOTHER 25%. SO AS
SOON AS YOU GET THE CHANCE
TAKE CARE OF FILING, YOU MAY
STILL GET IT. BUT MAYBE
COMPLETE A HARD CASE FOR A
HARDSHIP CASE. THE
EXPLANATION, IF YOU REALLY DO
HAVE A HARDSHIP AND THAT’S NOT
AT LEAST THE PENALTIES WANT TO
PROVE LIKE THEY WILL. IF YOU
WAIT TILL THE SUMMER, SO TAKE
CARE OF IT AS SOON AS
POSSIBLE. BUT I CERTAINLY
RECOMMEND WITH 2 DAYS WE HAVE
LEFT THAT YOU SHOULD BE ABLE
TO GET SOMETHING IN AND TO BE
ABLE TO GET SOME HELP. BUT AS
FAST AND AS SOON AS POSSIBLE
AND THEN START LOOKING TO THE
FUTURE NEXT YEAR’S ALREADY
YEAR, A 3RD OVER. SO GOT TO
GET A BETTER PLAN FOR NEXT
YEAR. BUT YOU CERTAINLY HAVE
TIME RIGHT NOW FIND YOUR
DOCUMENTS. FIND LAST YEAR’S
TAX RETURN. GO TO THE INTERNET
AND FIND A COMPANY NEAR YOU.
IT’S PRETTY EASY TO FIND A TAX
PRO AND GO SEE THEM TODAY OR
TOMORROW.
>> AND I KNOW YOU MENTIONED
FILING AN EXTENSION. HOW DO
PEOPLE GO ABOUT DOING THAT?
>> WELL, YOU’VE GOT A COUPLE
OF OPTIONS. YOU CAN E-MAIL IN
THE FORM. 48 68 OR YOU CAN GO
ONLINE AND FOLLOW THE VIRUS
DOT GOV. WHERE YOU CAN SEE A
TAX PRO, THEY CAN HELP YOU AS
WELL. THE THING TO KEEP IN
MIND ABOUT AN EXTENSION IS
IT’S ONLY AN EXTENSION OF TIME
TO FILE YOUR PAPERWORK AND RAN
IT 6 MONTHS UP OCTOBER. BUT IF
YOU OWE A BOUNCE, DO YOU HAVE
TO PAY THAT ON TIME OR YOU MAY
SUBJECT YOURSELF TO COUNTIES
IN INTEREST ON THAT SO FILE
FORM, BUT YOU HAVE TO WORK UP
THE COMPUTATIONS, WHICH IS
ABOUT THE SAME AS DOING A TAX
RETURN ANYWAY. AND SO WHAT YOU
THAT FOR LONG, MOST TAX PROS
SAY, HEY, LET’S JUST FINISH
THIS. AND THAT’S YOUR TAX
RETURN TODAY. 3 OUT OF 4
PEOPLE ARE GETTING A REFUND
THIS YEAR. REFUNDS ARE UP AND
MORE PEOPLE ARE GETTING THEM.
SO IT’S IN YOUR BEST INTEREST
TO TAKE CARE OF IT ONE WAY OR
THE OTHER FIRE TEXTRON WERE
FOUND ENGINE BUT PAY THAT
BALANCE, DO OR HAVE RISKS.
>> WHAT’S YOUR MESSAGE TO THE
PEOPLE WHO STILL THINK, YOU
KNOW WHAT?
>> I’M BETTER OFF WAITING AND
NOTHING’S GOING TO HAPPEN TO
ME. WHAT’S YOUR MESSAGE TO
PEOPLE LIKE THAT?
>> WELL, THE IRS, BUT I
PROBABLY THEY HAVE GOTTEN VERY
SOPHISTICATED WITH THEIR
IDENTIFICATION. TECH MAKES
THEIR COMPUTERS AND YOU REALLY
DON’T WANT TO GO DOWN THAT
ROAD BECAUSE SOON AS YOU GET
THAT FIRST LETTER WITH THE
IRS, THEN YOU’VE GOT COUNTIES,
THEN YOU’VE GOT INTEREST. YOU
PROBABLY HAVE TO PAY SOMEONE
TO HELP YOU CLEAN IT UP AND
THEN YOU’VE GOT TO DO THE SAME
THING YOU WOULD HAVE DONE
ANYWAY IF YOU’VE DONE IT ON
TIME AND 3 OUT OF 4 PEOPLE, AS
I MENTIONED, ARE GETTING
REFUNDS. YOU KNOW, THAT’S YOUR
MONEY. REFUNDS ARE WELL OVER
$3,000 THIS YEAR. SO WHAT DO
YOU THINK YOU’RE YOU KNOW,
YOU’RE 3 OUT OF 4 PEOPLE ARE
NOT OWING THE IRS OPERATING
VERY EFFICIENTLY THIS YEAR, 9
OUT OF 10 TAXPAYERS ARE
GETTING THEIR REFUNDS AND
ABOUT 21 DAYS, MANY, MUCH
LESS. SO YOU’RE NOT REALLY
SURE UNTIL YOU’RE SURE. AND I
WOULD TELL YOU THAT THE TAX
PROFESSIONALS OUT THERE VERY
EXCITED ABOUT TAXIS AND THAT’S
KIND OF WHAT WE DO THERE.
READY TO HELP ONCE YOUR MONEY.
YOU KNOW, THERE’S NO REAL GOOD
REASON TO NOT GO GET YOUR
MONEY. AND IF YOU CERTAINLY
WANT TO PAY THAT BECAUSE THE
PENALTIES AND INTEREST OFTEN
GROW BIGGER THAN THE TAX
LIABILITY ITSELF OVER TIME. SO
IT’S NOT SOMETHING YOU CAN
LOOK PAST YOUR CREDIT CARD
BILL OR UTILITY BILL. THE IRS
IS VERY GOOD AT FINDING THE
PEOPLE THEY’RE VERY GOOD AT
GETTING THEIR MONEY THROUGH A
NOTICES TO COUNTIES TO ENTER
THROUGH LANES AND THEN LEVEES
OF YOUR ASSETS EVENTUALLY. SO
IT’S JUST SOMETHING YOU OUGHT
TO DO. BUT I STILL GO BACK TO
THE REFUNDS ARE UP MORE PEOPLE
THAN EVER GETTING NUMB AND
THEY’RE COMING FASTER THAN
EVER. THAT IS YOUR MONEY. GO
GET YOUR MONEY AND YOU STILL
PLENTY OF TIME TO DO THAT.
>> ALL RIGHT. WELL, THERE YOU